It is possible to trade currency as a commodity, however trading foreign currency (Forex) on the spot market is far more popular and has many advantages, including;

- No need to rollover contracts
- Futures contracts are generally for large dollar amounts, a Forex mini trading account will allow you to trade just $10,000 of currency
- The spot Forex market offers up to 200:1 leverage

- The spot Forex market is more liquid than futures
- Interest is calculated daily, not in the contract price
- Many brokers offer more currency pairs than they do futures

If you’re taxed in the U.S. it is possible to make a tax election so that your spot Forex trades receive the same concessional treatment as futures trades do.

If you’re familiar with trading commodities, it will not take you long to learn how spot Forex works, many Forex brokers offer free practise accounts so you can learn how it all works before putting any money on the line.